International Center for Finance "In the News"

News Archive

Jonathan Edwards Dean Cabolis to Join ICF
".. After serving as JE dean for six years, Cabolis announced late Tuesday night that he would be stepping down from his post at the end of this year. Starting this summer, Cabolis will become the executive director of the Yale School of Management's International Center for Finance.." -Full Yale Daily News Article

Chinese publications feature Yale Finance Professor
Yale Professor of Finance and ICF Fellow Zhiwu Chen contributed to two prominent Chinese publications. In New Fortune Magazine Chen focuses on investment management, regulatory and legal infrastructure reforms in China. The article is entitled "The Shareholder Class Action Suit Against Cendant Corp. & Its Directors."

Professor Chen also co-authored two articles for Caijing magazine on the Enron bankruptcy scandal: "How Market Participants and The Financial Media Discovered the 'Enron Case'" (with Franklin Yang) and "Understanding the Structured Finance of Enron" (with Zheng Yue).

Articles feature research from Yale faculty
Pensions & Investments recently dedicated a front-page article to the research of Yale Professors William Goetzmann and Geert Rouwenhorst and ICF Doctoral Fellow Lingfeng Li. Their paper, "Long-Term Global Market Correlations," questions whether international stock investing always adds diversification to a portfolio in this era of increased globalization and high correlations of international equity markets. The same paper, which was cited in BusinessWeek and The Wall Street Journal, states that, according to the study, investing in foreign stock markets today would reduce your portfolio's volatility by only about 30%.

Chevalier, López-de-Silanes join ICF
The ICF is pleased to announce that Judith Chevalier and Florencio López-de-Silanes will be joining Yale School of Management and the International Center for Finance as of July 2001.

$1.2 Million Gift to support ICF's historical stock market research project This project has been in the news several times recently. You can find all the stories right here. See what Financial Times, New Haven Register, Yale Bulletin, and Yale Daily News all had to say.

Venture pairs SOM, Beinecke The words "business school" and "rare book library" are not usually thought of in the same breath, but a new Yale initiative will link them together. The School of Management's International Center for Finance will work with the Beinecke Library this semester on a project designed to highlight major innovations in the history of finance. Click here for the full story.

ICF hosts George Soros, founder of the Quantum Fund On October 10, 2000, Soros spoke at the Yale School of Management on the value of having politics in society. He also received an award from SOM's International Center for Finance for his philanthropic and business work. Click here for the full story.

ICF Fellow on cover of Barron's Center fellow Robert Shiller was pictured on the May 22, 2000 cover of Barron's magazine reclining in the center's lounge. Shiller's inclusion was due to his newest book's prediction of the market's stumble, and his predictions of future declines.

ICF included in Online Subject Catalog of Academic Resources The Center's website has been selected to be included into the online directory of Academic Resources. Currently the ICF can be found on their Hot Top 100.

Irrational Exuberance This new book from ICF Fellow Robert Shiller, has been recieving a lot of press in the last few weeks and has been referenced many times. Click here to view The Economist, Business Week, and USA Today. More information can be found on Prof. Shiller's own page.

ICF Gets A New Look For The New Year February 2000 we proudly unveil our newly redisigned website. One new addition to the site is the Smart Investor page, listen to streaming audio of ICF Fellows appearing on the National Public Radio program "The Smart Investor".

ICF Fellow Recognized January 7, 2000 John Geanakoplos, ICF Fellow, was one of the recipients of the 1999 Paul A. Samuelson Award for Outstanding Scholary Writing on Lifelong Financial Security. Geanakopolos along with Olivia S. Mitchell and Stephen P. Zeldes received the award for their work as authors of "Social Security Money's Worth" published in Prospects for Social Security Reform, 1999.

21 Ideas for the 21st Century The August 23-30, 1999 edition of Business Week magazine featured the cover story "21 Ideas for the 21st Century". One focus of the article was new Financial Hedges. These hedges would "insulate people from events outside of their control". Featured in the article was Yale University economist Robert J. Shiller for his book Macro Markets: Creating Institutions for Managing Society's Largest Economic Risks and was quoted "It will encourage people to take risks, because the risks will no longer be concentrated exclusively on them."
Click here to read the full article online

A Multifractal Walk Down Wall Street featured in The February 1999 issue of Scientific American. This article by ICF Fellow Prof. Benoit Mandelbrot covers the topic of how "The geometry that describes the shape of coastlines and the patterns of galaxies also elucidates how stock prices soar and plummet".

Live Markets! On October 7, 1998, the ICF conducted a four hour experimental market over the internet with broad school-wide  participation by SOM students. The results were a dramatic success, showing the process by which financial markets reach equilibrium prices when traders speculate in multiple securities.

Results of this live experiment can be viewed by logging in here.
Use the login name "1" and the password "a" and explore the graphs of the prices!

The experiment was run jointly by CalTech professors Charles Plott and Peter Bossaerts and SOM professor Will Goetzmann. We thank all of the SOM students who made the the ICF's first experiment great success.

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